Credit Suisse plans contingent coupon autocallables on three stocks

By Devika Patel

Knoxville, Tenn., March 15 – Credit Suisse AG, London Branch, plans to price contingent coupon autocallable yield notes due March 29, 2019 linked to the worst performing of the common stocks of Bank of America Corp., Halliburton Co. and MetLife, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a monthly contingent coupon at an expected annual rate of 10% to 11% if each stock closes at or above its barrier level, expected to be about 60% of the initial level, on the observation date for that month. The exact coupon rate and barrier level will be set at pricing.

Beginning June 27, 2017, the notes will be called at par if each stock closes at or above its initial level on any quarterly trigger observation date.

The payout at maturity will be par unless any stock finishes below its barrier level, in which case investors will lose 1% for each 1% decline of the worst performing stock from its initial level.

Incapital LLC is the agent.

The notes (Cusip: 22548QWN1) will price on March 28 and settle on March 31.

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